•    Category A: Persons who intend to work as self employed in agriculture, cattle breeding, bird breeding or fish culture in the Republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of Euros 475,500.00) and such an employment should not negatively affect the general economy of the Republic.
•    Category B: Persons who intend to work as self employed in mining enterprises in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of Euros 380,400.00) and such an employment should not negatively affect the general economy of the Republic.
•    Category C: Persons who intend to work as self employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of Euros 286,000.00) and such an employment should not affect negatively the general economy of the Republic.
•    Category D: Persons who intend to work as self employed in a profession or science in the Republic, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
•    Category E: Persons who have been offered permanent employment in the Republic, which will not create undue local competition.
•    Category F: Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least Euros 11,000.00 for a single applicant and moreover at least Euros 5,500.00 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary. As per Cyprus Immigration, most applicants come under this Category, the majority of them being pensioners or retired persons.

International Commercial Companies entitled to hire foreigners

With view to secure social and economic development of Cyprus, the government limited the number of companies entitled to hire third country nations. A company may hire foreigners only upon condition that it:
•    has strict ownership structure and transparent capital sources, provided that its direct shareholders are registered at the Immigration Control Board and the Civil Registration Board. Corporations should be listed at any official stock market.
•    has administrative office supplied with all the needful:
1.    the office should be located in a proper district and should not be a part of personal residence or another company’s office;
2.    the office should be furnished with communication facilities;
3.    the office should be open in working hours and serviced by full-time staff.
•    has stable financial growth confirmed by annual accountancy sheets.

Third country nationals working on the below positions shall be considered as the management staff:
1.    Director or founder;
2.    Partner;
3.    Branch Head or Rep. Office Head; or
4.    Head of Business center operating in Cyprus at least two years.

The third country nationals working in administrative, professional and technical spheres in Cyprus and not mentioned above shall be considered as the non-management staff.

The Head of Immigration Control Board and the Head of Civil Registration Board take final decision about issue of Residence Permit to foreigners willing to work in Cyprus.

First Residence Permit
Management staff

In order to receive the Residence Permit for the first time you should apply to Immigration Control Board and the Civil Registration Board. If there is no reason for refusal, the management staff shall receive the Residence Permit within one month from the date of application.

A. New Companies

•    You should prove that you can support yourself and your dependent persons financially during one year of stay in Cyprus until the new company fully operates. The evidence may be a deposit in local bank in the amount of your annual salary and month accountancy sheet of the company;
•    or receive Registrar certificate that the total possessions of the company are not less than Euros 48,000.00. This amount will be enough for hiring two management staff persons. If you intend to hire more than two management staff you should submit a recommendation of a Cyprus bank about financial growth of your company.
B. Existing Companies

•    You should fill in and affirm M.61 forms (set of documents for Temporary Residence Permit) and M.64 forms (set of documents for Work Permit).

Non-management staff

From the Employer:

•    Certificate of Incorporation
•    Memorandum and Articles certified by the Registrar
•    Statement on behalf of secretariat and the head of the company
•    Statement on behalf of the company’s shareholders
•    Statement from the Headquarters of the company
•    Brief description of the company’s activities, deals completed and staff
•    List of all heads and shareholders of the company identifying their passport numbers, nationalities and addresses
•    New companies should also submit lease agreement of main office (if not available upon registration, the company should present it within 2 months to the Registration & Immigration Board).

From the Employee:

In order to receive the first temporary residence permit you should apply to the Immigration Dept. in local police. The required documents are as follow:

•    Labor contract attested by the Personnel Dept. and mentioning salary and duration of the contract
•    Filled in and attested forms M.61 (set of documents for Temporary Residence Permit) and M.64 (set of documents for Work Permit)
•    CV
•    Passport copies
•    Criminal record
•    Bank guarantee on behalf of employer
•    Medical certificate
•    Medical insurance
•    Euros 40.00 (duty for Permit).

Hiring employees

The procedure of hiring employees is set forth by the Aliens and Immigrants Regulations and decisions of the Council of Ministers. The Ministers’ commission may consider specific cases.
Owners of Real Estate Objects
General Information

•    A foreigner may buy a house or a land plot of area up to 4,000 sq.m. A foreigner employee may also acquire a second cottage in case if he/she is residing in the Republic of Cyprus and wishes to buy a house in the resort area. In order to purchase a second house you need to get approval from the Council of Ministers. The respective approval is granted within 12 months unless there are reasons for refusal. You may also get approval in case if you wish to buy real estate object, rent a house or purchase it via trust fund.
•    A local law firm which drafts a purchase-sale contract of real estate object should get approval to purchase. You should register the contract in the Dept. of Land Registration in the locality where a real estate object is located. While payment, you should transfer the required sum from a foreign fund to Cyprus. In case of return the sum will be Euro 19,000.00 per year, the direct purchase cost shall be returned at once.

Immigration

•    In order to get a Residence Permit you should pass an interview in the Immigration Control Board. You should submit the following documents:
1.    Passport
2.    4 photos of passport size
3.    Purchase-sale contract of real estate object or rent agreement
4.    Bank account extracts; you should open an account in the Republic of Cyprus
5.    Description of your financial sources such as pension, lease of possessions, dividends etc.
•    You should prove during interview that you can support yourself financially from the external financial sources.
•    You should have good reasons to apply for a Work Permit. The E.U. citizens enjoy a simplified procedure of getting a Work Permit. If they wish to run business in Cyprus they will for sure get a Work Permit by purchasing 100% share in a Cyprus company and becoming director of the company. The simplest way to get a Work Permit is to open your own business in Cyprus.

Residence Permit

•    Foreigners who purchase real estate in the Republic of Cyprus may get a Residence Permit. The Cyprus government issues two types of Residence Permits:
1.    Temporary Residence Permit (valid for a Definite Period of Stay). For getting this type you need to have an account in the Cyprus bank and the purchase-sale contract of real estate in the Republic. You may open Residency for a period from one up to four years.
2.    Permanent Residence Permit. The same conditions as above, and also your annual income should be at least Euros 10,000.00.
•    A foreigner wishing to get a Residence Permit should apply to the governmental control commission. With this purpose, he/she should fall into one of the below categories:
1.    Category A: A foreigner who wishes to open a commercial office in Cyprus.
2.    Category B: A private entrepreneur who wishes to run his/her own business in Cyprus. The company’s activity should not affect negatively the general economy of the Republic. The entrepreneur’s assets should be at least Euros 286,000.00.
3.    Category C: A foreigner hired by a local company. This should not create undue local competition.
4.    Category D: A foreigner who resides and works in Cyprus and is financed from abroad. The income should be at least Euros 7,300.00.

Financial service and mortgage

•    All banks and financial organizations in the Republic may provide mortgage credit to those who wish to purchase real estate object in Cyprus.
•    You can take credit in local or foreign currency for the amount of 60 – 80% of the real estate costs, and the maturity period may vary from 7 to 20 years. If you wish, the bank can elaborate the individual schemes of mortgage credit repayment. Due to financial crisis, banks have temporarily suspended issue of mortgage credits.

Sale of real estate object

If owner decides to sell the real estate object in future, he/she can get its initial cost back as well as costs of each improvement done during possession of the object. The nationality of seller and buyer does not affect the procedure of purchase-sale of real estate objects.

Status of a foreigner - holder of the Permanent Residence Permit

•    The section below applies to third country nationals (not E.U. citizens).
•    Third country nationals may get a Permanent Residence Permit after five years of legal stay in the Republic of Cyprus.
•    You should have the following documents:
(a) Evidence of stable and permanent financial source. You should prove that you can support yourself and your dependents financially and shall not apply to social services for help. The amount of pension to be received and minimal wage will also be considered.
(b) According to the effective legal regulations, the government may make demands as for assimilation.
•    The Government may refuse to issue Permanent Residence Permit due to reasons of public or social security.
•    The Government shall not refuse to issue Permanent Residence Permit for reasons unmentioned in this section.

If you have already got a Permanent Residence Permit:
Equal Rights

1.    You have rights equal with local population with regard to:
o    (a) entrepreneurship and employment
o    (b) studies and professional training
o    (c) legalization of diplomas, certificates and other documents
o    (d) social security , social assistance and protection
o    (e) tax privileges
o    (f) equal access to goods, services and terms of residential premises lease
o    (g) access to membership in trade unions and other organizations, enjoying respective services and privileges
o    (h) free travelling within the Republic.
2.    In accordance with paragraph 1, sections (b), (d), (e), (f) and (g), in individual cases the government may limit the rights with regard to the locality of residence.
3.    The Government reserves the right to limit your rights in the sphere of:
o    employment in case if a position is reserved for citizen of Cyprus, E.U. or European Economic Area;
o    studies and professional training in case if you do not have a sufficient command of the language. In order to enter the university you have to fulfill specific terms.

 Citizenship through Naturalization

o    The following categories of persons are entitled to get Citizenship through naturalization: adults residing in Cyprus from 4 to 7 years within last 8 years; athletes, coaches, technicians, agents of foreign companies, local companies’ employees etc. You should present birth certificate, passport, police certificate, 2 photos and publication of your intention in the Cyprus newspaper within two working days.
o    Please note that the Cyprus citizenship is not acquired automatically. The respective decision shall be issued by the Minister for internal affairs.


Conditions:
•    (a) You should reside in the Republic within the last 12 months;
•    (b) Before the above 12-months term you should have been in the Republic or work on a voluntary basis in the Republic at least 4 years within 7 years;
•    (c) good standing confirmation;
•    (d) you should intend to:
1.    reside in the Republic of Cyprus;
2.    work on a voluntary basis in an international organization present in Cyprus, a company or another organization open in the Republic.

The Council of Ministers reserves the right to change the conditions of getting a citizenship in individual cases:
•    (a) to limit the 12-months term as mentioned in section (a) above to 6 months;
•    (b) to prolong the 8-years term as mentioned in section (b) above to summarize the 4-years term of stay in the Republic or public service;
•    (c) in exceptional cases, a foreigner providing services of the highest standards for the Republic of Cyprus can get citizenship regardless of the terms described above. The House of Representatives should be notified respectively in advance.

Citizenship through Marriage

•    An adult foreigner legally staying in the Republic and being married to a Cyprus citizen during 3 years may get Cyprus citizenship. With this purpose he/she should file an application in two copies.
•    You should have marriage certificate, cohabitation certificate, birth certificate, police certificate and spouse’s data.